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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index (BDI) further down to 1,250 points, 0.32% lower than the previous session. The Panamax segment once again suffered the bulk of the losses, while the Capesize market was marginally higher by 0.39% to 1,546 points.
In its weekly report, shipbroker Barry Rogliano Salles said that the Capesize market was relatively inactive last week, partly due to the Easter holidays which triggered a lull in the market. “The levels remained grossly flat at the weak level of about US$6/7000/day on average. Partly due to chtrs holding back nominations under their COA’s until the end of the quarter, a severe lack of cargo was felt, particularly for loading in the Atlantic, which meant that owners had to lower their rates to obtain the rare business around, and a TARV was worth a very low US$4/5,000/day while Fronthaul business gave returns in the high teens.
A more regular amount of activity in the Pacific enabled the rates to sustain themselves unusually higher than in the Atlantic, standing at around US$6-7,000/day. Backhaul cargoes were still extremely scarce and continued to pay a negative return of about minus US$7,000/day. Ships in the PG could obtain mid teens return for a trip via India to china. On the period front, short period deals are now worth in the low teens dely China redly ww, depending mainly on eco consumptions as in these market conditions of rock bottom TC rates and very healthy bunker levels the vast majority of the cape fleet is slow steaming. This week started quietly and we will need to see a fresh income of Atlantic cargoes to make the market move” said the report.
Regarding the Panamax market, BRS noted that during the course of the past, the Baltic Panamax Index eased by $1,000 in all basins which represent a significant loss of around 10%. The Pacific rounds were fixed at mid US$8,000/day and the TA round at just below US$11,000/day. The main reason of this trend was the lack of cargoes worldwide and the good number of spot vessel looking for business. The Period activity was the most impacted market as it tumbled and lost US$2,500/day opening the week at US$14,500/day and closing it US$12,000/12,500/day for nice TES 74 dwt.
As for the Supramax/Handy segments, “ast week we had a slow activity on the market due to the Easter holidays break, the Supramax market has been slowly sliding down in all areas. During this Easter mood, the BSI lost only 13 points to reach on average of the TC routes of US$14,645 at the end of the week. Out of the USG owners were fixing their Supras around US$23,000 daily for redelivery Skaw/Passero whereas redelivery Singapore/Japan was fixed in the low US$30,000. The Black Sea/Med area was not improving, most of the ships were ballasting out, the lucky ones fixing clinker or steels. A large supra was fixed at US$7,000 delivery Black Sea/redel USG. The Supramax market in the Pacific has been on a downfall since last week. Owners were trying to resist as feel market will bounce back this week due to more iron ore, nickel ore cargoes coming out but charterers pulling rates further down.
WCI India iron ore stems have increased as miners are trying to move as much as possible before the monsoons start. A few Indo coal stems, which were usually covered on COAs have been seen on the spot market. The Index for the pacific round ended in the 14k-15k levels. Modern Supramaxes are getting interest for short periods in the mid teens” concluded the shipbroker.
Meanwhile, in a separate report, Commodore Research & Consultancy focused on China developments, noting that 11 vessels were chartered to export thermal coal to China last week, 8 more than the week before that. “Domestic thermal coal prices remain relatively low compared with international coal prices but the overall price differential is slowly increasing. Australian coal cargoes remain unattractive, however, as freight costs exceed the difference between Datong and Newcastle prices. The differential between Datong and Newcastle FOB prices has increased to $7.50; last week the differential was $6 (the price of Datong coal has held steady at $129/ton; the FOB price of Newcastle coal has declined to $121.50/ton). The cost of freight to ship Australian coal to China currently stands at roughly $12/ton, well above the $7.50 price differential.
Chinese iron ore production has increased significantly on a month-on-month and year-on-year basis. Approximately 94.4 million tons of iron ore was produced in March, an increase of 21.9mt (30%) from 72.5mt produced in February and 14.7mt (18%) more than the 79.7mt produced in March 2010. Compared to the first three months of 2010, Chinese iron ore production has increased this year by 36.6mt (18%). Domestic iron ore production has remained at high levels due to lucrative prices. Production is expected to remain firm while prices stay high. Although iron ore imports will continue to be negatively affected by robust domestic production, imports have been able to remain at firm levels as demand has stayed robust” concluded the US-based consultancy.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
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- White Energy Company Limited
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Eastern Energy - Thailand
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
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